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Steven Castrello Allegedly Engaged in Private Transactions without Firm Approval

Steven Castrello (CRD #: 4335740) has been fired by Osaic Wealth. This is according to his BrokerCheck record, accessed on August 5, 2024. Keep reading if you have questions regarding his alleged conduct. 

Employment Separation After Allegations 

On July 12, 2024, Osaic Wealth fired Steven Castrello following allegations that he engaged in private transactions with clients without prior approval of the broker-dealer. 

FINRA Rule 3280

FINRA Rule 3280 requires brokers to provide written notice to their firm before engaging in private securities transactions.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 3280 also violate this rule. 

Background Information 

Steven Castrello has passed the following exams:

  • Series 66 Uniform Combined State Law Examination
  • Series 63 Uniform Securities Agent State Law Examination 
  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 6TO Investment Company Products / Variable Contracts Representative Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 55 Limited Representative-Equity Trader Exam
  • Series 31 Futures Managed Funds Examination 
  • Series 7 General Securities Representative Examination 

During his 21 years of experience, he has registered with 11 firms. These are the five most recent: 

  • Osaic Wealth (CRD #: 23131) 
  • Ameriprise Financial Services (CRD #: 6363) 
  • Royal Alliance Associates (CRD #: 23131) 
  • Signator Investors (CRD #: 468) 
  • Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 

Kurta Law Can Help 

If you have worked with Steven Castrello and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.

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